There are times when I'd like to share something with you but my Voice in the Gardensite does not seem the appropriate place, thus, this blog.

There are experiences, thoughts, views... and for anyone lurking/waiting to pounce (as has occurred on several occasions), please do not attempt to turn what I post into a political statement. This is NOT a political site, but IS about occurrences, reality, and personal opinion concerning what I see in the world around me and my family. There are many excellent writers whose works "speak" to me, and I shall include some of them. At times it may be something I think you would enjoy or simply whatever ails you (me).~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~.

Tuesday, February 7, 2012

The purpose of this clause is to bring transparency to the information
peddling that represents a lucrative trade for hedge funds and banks
that trade on insider information from the Congressmen themselves.

There is also large analyst trade in selling political information
obtained privately to hedge funds. And rumour has it that quite a bit
of that information spreads its way through the halls of the august Wall
Street banks as well.

Wall Street apparently went into full court lobbying mode when they
found out that Grassley had resubmitted this clause after they had
successfully had it removed.

The clause only requires analysts to register their contacts and to
disclose how they might be using the information provided by the
Congress.

Information is power, and private access to public power is one of the great strengths of the Wall Street monied interests.

This bill might curtail the ability of JP Morgan and Goldman Sachs to obtain private information from the Finance Committees.

I am sure Mr. Obama, the great reformer who promised transparency, is
solidly behind this move by the Republican Senator Grassley, right?
Hard to tell right now.

A U.S. Senate measure that would place restrictions on people who
gather and sell government information to hedge funds may entangle bank
research analysts and others on Wall Street, according to lawyers and lobbyists. (The others are the conduits to the trading desks of the TBTF banks - Jesse)

The Securities Industry and Financial Markets Association, which
represents firms including Goldman Sachs Group Inc. and JPMorgan Chase
& Co., held a rare weekend call for members on Feb. 4 to discuss the
measure, according to two people with direct knowledge of the call.

The provision, part of a broader bill that passed the Senate last week and is scheduled to face a House vote this week, may require analysts and others to register with Congress and disclose contacts with government officials, according to a legal analysis prepared for the group’s members.

“There are going to be a lot of entities and organizations who will not
want their people anymore to contact government officials to get
information which might be used for a number perfectly appropriate
purposes,” Robert L. Walker, an attorney for Wiley Rein LLP who is
listed as one of the authors of the legal memo, said of the impact of
the provision. ('Jump you fuckers' as the Tea Party said before they turned corporate. lol - Jesse)

The broader bill would ban lawmakers, their staffs, and much of the
executive branch from trading stocks, commodities or futures based on
confidential information they learn on the job. Senator
Charles Grassley, an Iowa Republican, succeeded last week in adding the
provision that targets trading in so-called “political intelligence.”(There is nothing 'so-called' about it. That is what it is, and it is a form of corruption, albeit lucrative. - Jesse)

Such information may include conversations with lawmakers,
congressional staff or other government officials about the future of
legislation or regulations that have not been made public. That
information has been targeted by lawmakers, who are pushing to identify
firms and individuals in the business and force them to disclose their
clients....